Foreign Earned Income HELP
August 24, 2011 5:17 AM Subscribe
Need Foreign-Earned Income help:
I'm a Consultant working in Iraq...
posted by bbhart113 to work & money (6 answers total) 2 users marked this as a favorite
1. I'm 90% sure that I will be able to stay out of the US for 330 (non-consecutive) days to ensure I get the federal tax exempt status for my foreign-earned income in 2011. What are the steps I need to take now? Do I still pay my estimated federal tax due on 9/15?
2. When does the clock start when calculating how many days were spent out of country? Would it begin in May 2011 and end May 2012? The problem with this is that I took a new job while I was already overseas, and my old job that I left was based out of NC - meaning I worked as an employee in NC full-time, but they also sent me to Iraq every few months for a couple weeks at a time - and they sent me over in May, but I didn't start with my new (current) company as a Consultant until June 5th, so do I start counting the clock when the old company sent me or when I started with the new one?
3. How to calculate which days 'count' - if I arrive into the US late in the day (close to midnight) will this count as a full day in the US? Also, if I leave the US on a particular day, let's say at noon, does this count as a full day in the US?